LIC Partners with Saraswat Cooperative Bank to Increase the life Insurance

LIC Partners with Saraswat Cooperative Bank to Increase the life Insurance

Daily Current Affairs   /   LIC Partners with Saraswat Cooperative Bank to Increase the life Insurance

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Category : Business and economics Published on: September 01 2023

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  • Life Insurance Corporation of India has tied up with Saraswat Cooperative Bank Ltd in its effort to increase the penetration of life insurance through the Bancassurance channel in Mumbai.
  • Saraswat Cooperative Bank is India’s largest Urban Cooperative Bank.
  • Citizens in general and customers of Saraswat Bank, in particular, will now have the opportunity to fulfill their life insurance protection needs through the Bank itself by purchasing insurance products.
  • The Bank has a vast network of 294 Branches as at 31 March 2023 spread over 6 states and is catering to over 2 million customers. It has also got the distinction of being India’s largest Urban Cooperative Bank.
  • Being the premier insurer of the country, LIC has plans for all segments of the society under its product basket of Annuity, ULIP, Term Insurance and Savings category.
  • Recently LIC has launched a close-ended Guaranteed Benefit plan “Dhan Vriddhi” which is available till 30th September 2023 only, to persons of all age ranging from 90 days to 60 years.
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